Has Ola Electric Turned The Corner?

After months of sputtering in neutral, Ola Electric seems to have found its ignition key again — the bulls are now driving the stock. On the back of a positive auto industry sentiment and the PLI scheme boost, it touched a seven-month high at INR 69 last week.

But the Bhavish Aggarwal-led company’s growth story always has a catch. Following a dramatic rise earlier in the week, Ola Electric shares nosedived again to settle at around INR 60 as investors started booking profits and none other than SoftBank offloaded a part of its stake in the…